About the Role
Accountable for providing leadership and guidance to a team implementing relationship management strategies for Ontario registered pension plans. This role involves managing a diverse portfolio of pension plans, assessing compliance, administration, governance, and risk management practices, with a focus on asset transfer, plan wind-up, and surplus-related applications.
Responsibilities
- Provides leadership and expertise to engage a diverse group of pension plans.
- Formulates strategies, tactics, and approaches to identify and resolve plan administration and governance issues.
- Leads engagements with plan administrators, sponsors, beneficiaries, unions, and their respective consultants, actuaries, and lawyers.
- Works with pension stakeholders to resolve identified issues, ensuring the protection of pension plan beneficiaries and promoting good administration.
- Provides expert advice on Ontario’s pension legislative framework and FSRA’s Pensions Guidance and policies.
- Protects the benefits of plan beneficiaries by identifying plan-specific risks, including poor administration and governance factors.
- Identifies emerging trends and risks in pension plans and across the pension sector.
- Conducts analysis and prepares reports for the review of applications of asset transfers, surplus sharing agreements, and wind-ups.
- Challenges and encourages pension plan sponsors and administrators to adopt appropriate best practices.
- Leads and participates in strategic initiatives and projects, including conceptualization, development, and implementation.
- Provides leadership and peer review to junior team members.
- Works collaboratively with teams across Pensions, including multi-disciplinary project teams.
- Exercises and implements appropriate FSRA statutory and regulatory powers to improve outcomes for pension plan beneficiaries.
- Leads the team in the review and evaluation of pension legislation, policies, and guidelines.
- Coordinates recommendations and suggestions for senior management review.
- Prepares reports for senior management.
Requirements
- Degree in business, finance, actuarial science, accounting, auditing, mathematics, or a related field or a professional designation.
- Minimum of 7–10 years of pension-related industry experience.
- Understanding of the financial, actuarial, and operational aspects of pension plans.
- Experience in risk management and pension regulatory review principles and methods.
- Experience in managing pension plans in distress, companies in financial difficulty, or similar recovery and restructuring situations and PBGF claims.
- Demonstrated knowledge of structures, operations, programs, and products of the financial services sectors.
- Experience in effective stakeholder management with diverse and conflicting mandates and objectives.
- Excellence in negotiation to achieve mutually beneficial outcomes.
Skills
- Demonstrated knowledge of pension plan administration principles and processes.
- Demonstrated knowledge of pension governance and pension risk management.
- Demonstrated knowledge of the Pension Benefits Act and regulations and pension legislation of the federal government and other provincial jurisdictions.
- Demonstrated knowledge of general pension industry and pension plan regulation and design issues and trends.
- General knowledge of the concept of principles-based regulation.
- Proven ability to drive and champion change for new approaches, best practices, systems, and standards.
- Proven analytical and problem-solving skills.
- Proven project management and technical leadership skills.
- Proven ability to work collaboratively in a matrixed environment.
- Proven oral and written communications skills.
- Proven interpersonal and influencing skills.
Location
- Ontario
Work Type
- Fixed Term
- Full-time
Experience Level
- 7-10 years
Education Level
- Degree in business, finance, actuarial science, accounting, auditing, mathematics, or a related field or a professional designation.
Salary/Compensations
- $92,976.00 - $135,136.00
Benefits
- Employer-matched defined benefit pension plan
- Comprehensive and competitive benefits plan
- Investment in personal and professional growth
- Prioritization of learning and development
- Prioritization of wellbeing
- Prioritization of diversity, equity, inclusion and belonging
- Prioritization of community giving
About the Company
- FSRA's vision is to ensure financial safety, fairness, and choice for Ontarians.
- As a financial services regulator, FSRA is passionate about protecting consumers.
- FSRA's principles-based approach allows for quick and effective response to the changing needs of consumers and the industry.
- The team combines industry expertise with a commitment to public service.
- FSRA attracts individuals interested in meaningful work who measure success through outcomes.
Equal Opportunity
- FSRA is committed to ensuring equity in employment.
- The goal is to create a diverse, inclusive workforce that reflects the communities served.
- Services and communications are designed to be accessible to all individuals.
- Accommodation is available under the Ontario Human Rights Code.
